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Smart home market five major trends

The latest global smart home product research report by a well-known market research company GfK shows that by 2020, the global smart home market will grow from US$40 billion to US$58 billion, which is a significant increase.

The survey focused on the seven major smart home markets in the United States, the United Kingdom, Germany, Japan, South Korea, Brazil, and China. It visited more than 7,000 consumers and analyzed the future of smart homes from the end demand market.

Smart home concept is highly regarded by consumers

Consumers faced with smart home products are not all technology geeks. Even ordinary users who do not chase technology will purchase smart home devices. Among respondents, the vast majority of consumers have heard of smart homes, of which nearly 70% of consumers have a certain understanding of this.

Smart home products are more segmented

Smart home products are becoming more and more abundant. Among them, the five most popular products are smart security central control systems, energy and lighting products, entertainment and connected devices, health equipment, and smart appliances.

Consumers tend to focus on buying

45% of consumers prefer to purchase smart home products from the same supplier, 29% of consumers prefer to choose among different suppliers, 25% of consumers said that there is no particular preference. It can be seen that suppliers who integrate multiple types of products and provide the entire smart home system will have more advantages in the future.
Electronic product manufacturers become the backbone of smart home

The smart home market is becoming more and more mature, products are more detailed, and demand is rising. Focusing on smart home exports, you need to do the right promotion at the right time and lock in the right buyer! Global Sources Smart Living Show in October and Smart Voice Control Forum will bring you different exciting!